A 27-year-old man, Kingsley Ighodalo, appeared before an Ogudu Magistrates’ Court on Tuesday over allegations of defrauding a company of a Mercedes-Benz worth ₦40 million.
He was charged with three counts, including conspiracy, obtaining by false pretence, and theft.
According to the prosecutor, Insp. Donjour Perezi, the incident occurred on May 22, 2024, around 11:30 a.m. in the Ikeja Magisterial District.
Perezi said Ighodalo allegedly took possession of a 2016 Mercedes-Benz GLE 400, registration number BDG 390 HA, valued at ₦40 million, after securing the vehicle on credit from Auto Check Company under a false repayment arrangement.
Rather than meeting the agreed terms, the defendant reportedly disabled the car’s tracker and sold the vehicle for ₦38 million without the company’s approval, even though the original documents remained with Auto Check.
Multiple efforts by the company to recover the car proved unsuccessful, prompting a police petition.
The prosecutor noted that the alleged offences breach Sections 314, 287, and 411 of the Lagos State Criminal Law, 2015.
Presiding Magistrate S.K. Matepo set bail at ₦10 million with two sureties of the same amount and postponed the case to Oct. 13 for further hearing.